Category Archives: AUD/USD

We can see some weakness on AUDUSD from above 0.7600, but for now we still don’t have enough of evidences that corrective bounce is completed. Another and final push up to around 0.7620-0.7630 resistance area should not be a surprise from where we will expect a sell-off in the next 24 hours. more…

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-waves, so it’s a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with clearly impulsive personality, thus we believe that big black wave V is underway. more…

able is not showing us any clear and strong bearish waves yet, so market can still be in intraday consolidation phase. We are looking at an expanded flat in wave 2) which may look for resistance after wave C, near 1.4540-1.4570 area. If from any reason price will decline sharply to 1.4300 then this could be considered as wave three in progress. But anyhow, we think that sooner or later cable will fall to much lower levels while it trades beneath 1.4769. more…

On EURGBP our view remains bearish. We see a five wave decline from 0.7847 that suggests more weakness ahead, but after a three wave corrective bounce that can be underway in wave 2/B. Ideally that’s a small flat where price can retest 0.7788 resistance before downtrend resumes for wave 3/C down. Invalidation level is at 0.7848; as long it will hold we are looking down. more…

The light volume and lower volatility made AUDUSD possible trade bidirectionally. The initial rebound from 0.7050 made 30 pips initially as suggested on previous Session Recap webinar followed by a decline caused by investors dumping assets. Today’s FED’s chief Yellen testimony could be volatile and that is why I recommend caution. The testimony has been scheduled for 15:00 GMT. As head of the central bank, which controls short term interest rates, she has more influence over the nation’s currency value than any other person so pay attention to subtle clues about future monetary policy. more…

AUDUSD is finally turning lower with a very aggressive and impulsive price action from 0.7384 where pair might have reached a top of wave 4) if we consider also a broken channel support line of wave C. As such, traders must be aware of even more weakness in days ahead, especially after black wave 2 pullback that can be very interesting for shorts. more…

AUDUSD stays bearish as rally from 0.6900 was made in three waves, but based on latest price action we suspect that wave 4) will be much more complex than at first sight. We are looking at a triangle now that is placed within a downtrend of a blue wave (5) that will extend to around 0.6700 by the end of the year. After that we will look for a bullish reversal that could take place in 2016. more…

Yesterday, we noted that the “Eye of the Market” had shifted to the Asian-Pacific region, and as we found out in today’s Asian trading session, that extra attention was warranted.

Australia’s employment report overnight showed that the AU economy created a jaw-dropping 58,600 jobs in the month of October, crushing expectations of a 15,000 increase. This marked the largest jump more…

The AUDUSD has had a relief rally after the RBA decided to keep the rates at 2 %. The RBA indicated at the start of 2015 that it wanted to achieve 0.75 for the AUDUSD pair; currently it has surpassed this achievement as it is currently at 0.7200. As I have also explained 2 days ago on that basis, I doubt the RBA will cut rates further. Having said that, if commodities continue to weaken further, expect AUDUSD to weaken further under free markets. more…

AUDUSD is trading higher after no change in rates from the RBA members. Price rallied nicely up to 0.7200, now trading at resistance line of a corrective channel where successful breakout with a daily close around 0.7250 would put bullish prices back in play. In that case we will look back towards 0.7400 as decline from October highs would be treated as a completed correction. more…